Ramaco Resources, Inc. (NASDAQ:METCB) Short Interest Up 44.7% in February

Ramaco Resources, Inc. (NASDAQ:METCB) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 115,000 shares, a growth of 44.7% from the February 13th total of 79,500 shares. Based on an average daily volume of 42,200 shares, the days-to-cover ratio is currently 2.7 days. Approximately 2.3% of the company’s shares are sold short.

Institutional Trading of Ramaco Resources

Several hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its position in Ramaco Resources by 321.3% during the 3rd quarter. Barclays PLC now owns 7,184 shares of the company’s stock worth $77,000 after purchasing an additional 5,479 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Ramaco Resources by 191.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,284 shares of the company’s stock valued at $100,000 after acquiring an additional 6,103 shares during the period. Wedge Capital Management L L P NC increased its position in shares of Ramaco Resources by 395.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 205,270 shares of the company’s stock valued at $2,028,000 after buying an additional 163,828 shares in the last quarter. Capricorn Fund Managers Ltd lifted its holdings in shares of Ramaco Resources by 4.4% in the fourth quarter. Capricorn Fund Managers Ltd now owns 32,438 shares of the company’s stock valued at $322,000 after purchasing an additional 1,359 shares in the last quarter. Finally, South Dakota Investment Council boosted its stake in shares of Ramaco Resources by 2.4% during the fourth quarter. South Dakota Investment Council now owns 92,402 shares of the company’s stock valued at $913,000 after acquiring an additional 2,140 shares during the last quarter. Institutional investors and hedge funds own 9.63% of the company’s stock.

Ramaco Resources Stock Performance

Ramaco Resources stock opened at $8.82 on Friday. The company’s 50 day simple moving average is $9.08 and its 200-day simple moving average is $9.93. Ramaco Resources has a 1 year low of $8.31 and a 1 year high of $12.75. The company has a market capitalization of $463.31 million, a price-to-earnings ratio of 25.94 and a beta of 0.92.

Ramaco Resources (NASDAQ:METCB) last released its quarterly earnings results on Monday, March 10th. The company reported $0.06 EPS for the quarter. The firm had revenue of $170.89 million for the quarter.

Ramaco Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.1971 per share. The ex-dividend date was Friday, February 28th. This represents a $0.79 annualized dividend and a yield of 8.94%. Ramaco Resources’s payout ratio is 229.41%.

Ramaco Resources Company Profile

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.